Gold and Silver Prices Decline on Monday, Nov. 28

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Precious metals divided in their start to the new trading week on Monday with gold and silver falling and platinum and palladium rising.

Ending lower following three straight gains, gold for December shed $13.70, or 0.8%. to settle at $1,740.30 an ounce on the Comex division of the New York Mercantile Exchange.

"The metals are seeing selling pressure as the U.S. dollar index has rallied after trading solidly lower overnight. There are also worries about global demand for metals as unrest in China, the world’s second-largest economy, is likely to further squelch that country’s economic growth," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,738.20 and $1,763.50. They dipped 0.02% last week.

Silver for March delivery — the new, most-active contract, dropped 48.4 cents, or 2.2%, to settle at $21.125 an ounce. Silver futures ranged from $21.04 to $21.82. They gained 2.1% last week.

In other precious metals prices on Monday:

  • January platinum added $11.50, or 1.2%, to $999.30 an ounce, trading between $978.70 and $1,013.70.

  • Palladium for March delivery — the new, most-active contract — added $16, or 0.9%, to $1,846.80 an ounce, ranging from $1,825.50 to $1,885.

Last week, platinum edged 0.4% higher and palladium plunged 6.1%.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Monday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday July August September October November 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 59,500 47,500 47,500 59,500 6,000 846,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 2,000 0 2,000 0 75,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 4,000 2,000 0 140,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 20,000 15,000 15,000 0 575,000
$50 American Buffalo 1 Oz Gold Coin 0 39,500 22,500 44,500 39,500 4,500 410,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 850,000 833,000 1,258,000 1,407,000 15,904,500
$100 American Eagle 1 Oz Platinum Coin 0 15,500 1,000 0 0 0 80,000
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Kaiser Wilhelm

I suspect that if I actually owned any of this stuff these reports might have meaning.

Antonio

I have a 1/10 oz gold coin from Queen Elizabeth II’s Sapphire jubilee. It comes with a magnifying lens to see it.

Antonio

I stand corrected, it’s from her Diamond jubilee.

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Kaiser Wilhelm

That’s a very nice coin, Antonio, regardless of the size. Good for you!

Antonio

I’m proud of it, but like the U.S. gold dollar, if I’m not careful, it’ll slip through my fingers and good luck finding it. Even if I did, it would be a trial to bend down and pick it up. Needless to say, I keep it in the folder it came in.

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Kaiser Wilhelm

I have two U.S. Mint gold coins of that same size, and believe me, they stay tucked right in the display boxes they arrived in.